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Integrated Annual Report 2024

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Investment thesis

Investment thesis

Our strategy
for growth

The world of EdTech is moving fast. Our strategic roadmap for growth aims to position Alef Education amongst the world leaders at the forefront of this exciting sector: benefiting from, and actively driving its evolution.

We have established a well-defined strategy that leverages our dominant market position in the UAE, launches expansion through entry into key markets, fuels growth through innovation, and sets us up to scale rapidly through strategic partnerships.

 

 

Super-serve the UAE

Replicating the proven success story with ADEK to expand our presence in the growing UAE market

As the first pillar of our multi-tiered growth strategy, we rolled out a strategy to super-serve the UAE education sector’s public (via B2G) and private (via B2B) segments.

In the B2G segment; having already achieved full coverage of public-school grades 5-12, we aim to extend our solutions to younger grades (K-4) and to introduce new modules, subjects, and approved assessments.

Our focus with B2B in the UAE caters to private schools where we currently reach approximately 40-50% of the market with a limited range of subjects. To solidify our presence in the sector and expand our market share, we have plans in place to launch into new schools, introduce a wider range of subjects, improve revenue margins, and cater to a broader age-group of students. All while delivering educators and administrators with excellent customer satisfaction.

The UAE market

In the UAE, over a million children stand to benefit from improvements in Early Childhood Education (ECE). One third of K-12 students experience “learning poverty,” and the UAE’s performance lags in international assessments such as PISA, TIMSS, PIRLS.

Where we are today

The UAE remains a key strategic market, representing a significant portion of our recognised and recurring revenue through partnerships with government, semi-government, and commercial entities. Our projects in the UAE are characterised by large scale, high customisation, and long timelines. The launch of Miqyas Al Dhad, through a joint venture with MetaMetrics, strengthened our position as a leading EdTech provider, while our extended partnership with ADEK reaffirms commitment to serving the UAE.

Progress made in 2024

  • Our strategic long-term contract with ADEK was extended by an additional three years – till the end of trimester 1 AY 2033/34.
  • Partnerships with private schools grew from 82 in 2023, up to 167 in 2024, reflecting 100% increase year over year
  • Value (TCV) of contracts awarded during the year (AED 40 Mn.)
  • Projected Value (TCV) of proposals and negotiations underway (AED 48 Mn.)

Where we want to be

Extend our presence amongst private schools; deepen our engagement with existing partnered public and private schools – through additional subjects, assessments, and teacher development; and widen our reach by incorporating products and offering for Early Childhood Education (ECE).

Public schools (B2G)
0+ schools (100% of target market)
5-12 grades served
0,000+ students
Private schools (B2B)
0+ schools
0,000+ students

High impact B2G

Tailored end-to-end programs to transform education outcomes for governments globally.

Our B2G growth strategy contemplates active pursuit of new B2G partnerships to boost our revenue: focusing on large, long-term contracts with governments and education ministries. Ongoing discussions with potential partners in our target geographies promises a healthy pipeline of opportunities in the UAE, MENA, and further afield.

The focus is on markets with K-12 systems that are largely government-run, with centralized decision-making that allows for durable, long-term, B2G contracts.

B2G remains a crucial channel in our target geographies, where digital adoption is rising: especially in digitally advanced nations, where digital transformation in the education sector is driven by government reforms and a shift from print to digital.

Where we are today

Indonesia

0,0 registered students (0,000 onboarded)


0,000+ registered teachers (0,000 onboarded)


0% Teacher CSAT score

0K

Registered teachers

0K

Registered students


0K

Onboarded teachers

0K

Onboarded students


0

Teachers CSAT

0.0%

Higher final exam scores for students


Monetization opportunities

Ministry of Religious Affairs Ministry of Education (on central and district level)

Morocco

0+ enrolled students


0 enrolled teachers


0% SLT satisfaction rate

0

Teachers enrolled to the platform

0

Students enrolled


0.0%

Higher final exam scores for students

+0%

Higher test scores for Grade 9 English students


0%

SLT satisfaction rate

0

Monthly active pilot users


Subscription to English, Arabic, and French languages learning platform for students and teachers

Multiple countries

00 countries field-testing


0,000 students onboarded


0,000 students completed

Miqyas Al Dhad represents a groundbreaking initiative committed to advancing and measuring Arabic language proficiency across the region. Launched in 2024 as a joint venture with MetaMetrics®, this promising new endeavor is set to redefine Arabic language teaching, learning, and literacy by exploring innovative strategies and state-of-the-art methodologies.

Progress made in 2024

  • Received the official contract go-ahead from Morocco’s Ministry of Education; with projection to onboard over 50,000 new students in the next few years.
  • Agreed on terms for ICESCO pilot-projects in Malaysia, Azerbaijan, and Gambia.
  • Launched a partnership with UNICEF and Kenya Institute of Curriculum Development (KICD).
  • Set up the groundwork for education-reform related opportunities in Senegal.
  • Signed an MoU with Nahdet Misr Publishing, one of the leading publishing houses in Egypt and the Arab world, to collaborate on international government partnerships, especially in the Arab world and Africa.
  • Signed a JV with MetaMetrics® to launch Miqyas Al Dhad (MaD), and appointed a new GM to spearhead the project. Groundbreaking work since establishment has enabled signing of 7 MoUs, with 3 others in progress: signalling roll-out in 9 countries.
  • Preparatory work for the Miqyas Al Dhad scale saw inclusion of around 4,000 books (73 million words and phrases) into the corpus, and completion of a pairwise comparative study.
  • Initiated discussions with 20 key publishers and assessment providers, to explore potential commercial collaboration.

Where we want to be

We are focused on achieving significant growth in the B2G segments, in the medium term, driven by newly secured contracts and bourgeoning opportunities in the pipeline. Strategically, we will look to onboard additional clients, schools, and students; while maintaining strength of service for existing contracts that generate stable returns.

We would endeavor to maintain a sustainable revenue-mix: achieved through contribution of our Education Solutions and Support Services within the B2G contracted growth module.

Among B2B world leaders

Integrated platform of teaching and learning solutions empowering schools to improve educational outcomes.

The final key growth strategy pillar centers on the Group expanding into the wider B2B market to unlock additional growth opportunities and further strengthen its potential to become a global leader in EdTech.

Our target geographies are seeing increased investment in learning materials and EdTech solutions, with opportunities to succeed for companies that can differentiate themselves through value, usability, and advanced capabilities.

UAE Market

The UAE EdTech market presents a significant opportunity for our products and solutions catering to the K-12 and pre-primary segments. Our strategy prioritises high market penetration in the UAE; leveraging our readily available core content, competitive pricing structure, and expansive client-base. With a strong product pipeline in place to provide students with multiple modules per product-line, we expect growth that reflects the market's high-expendable nature.

Other GCC and MENA markets

The MENA region’s EdTech market, offers a compelling landscape for commercial providers; mirroring trends seen in the US and Europe. The region presents significant opportunities within the K-12 and pre-primary segments, as identified through comprehensive market studies.

Our target markets are seeing growing private school enrollment; with international private schools, characterized by high digital adoption and spending, representing a rapidly expanding segment.

Our strategy focuses on achieving stable market-share growth by leveraging our core platform, adaptable assessments, and supplementary products; building on easier adaptability of content. Our efforts center on providing multiple modules per student; aligned with regional curricula pricing structures.

Emerging markets

Recognizing the vast potential of emerging markets, our strategy sets out a course for expansion into these regions. With large student populations and increasing digital adoption, these geographies present significant opportunities across a number of segments.

Our strategy targets a market-share for lean growth in specific countries, which align closely with the adaptability of our product lines. A phased approach that prioritizes gradual adoption over a longer horizon, alongside our maturing product lines and service capabilities, would ensure we remain competitive even in markets with high competition and lower spending capacity.

Where we are today

Operating on a Software-as-a-Service (SaaS) model, we currently cater to private education groups, generating stable recurring revenues from a growing client base. Traction in the US market, while at a nascent stage, has demonstrated our ability to scale internationally.

Progress made in 2024

Established a strong foothold for growth in KSA and Egypt with a newly hired team. This is a strong initial endeavor that enhances growth prospects within these key markets.

During the year we secured our first deal in KSA, conducted launch seminars, and successfully defined product requirements for the local context; setting the stage with projections of registering over 56,000 students from 150+ private schools within the next few years.

Where we want to be

Gathering momentum through revenue build-up from a wide cross-section of products, including ECE, G3-12 courseware, assessment for K-12, and future learners and teacher support.

Continual expansion within this space by offering more subjects and content areas, as well as catering to a wider range of age groups.

Alongside the Company’s first and second growth pillars, which would have a multiplier effect, a broader B2B growth strategy would deepen our presence in a range of growth markets and horizons. This, in turn, would create opportunities to accelerate growth and market-share capture through multiple channels, geographies, and product categories.

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